Bank of America Corp DE Decreases Holdings in Kennametal Inc. (NYSE:KMT)

Bank of America Corp DE lowered its position in Kennametal Inc. (NYSE:KMT - Free Report) by 53.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 174,356 shares of the industrial products company's stock after selling 197,149 shares during the period. Bank of America Corp DE owned about 0.22% of Kennametal worth $4,188,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in shares of Kennametal by 120.9% during the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 716 shares during the period. Headlands Technologies LLC raised its holdings in Kennametal by 214.2% in the 4th quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company's stock valued at $51,000 after acquiring an additional 1,444 shares during the last quarter. Sterling Capital Management LLC raised its holdings in Kennametal by 801.8% in the 4th quarter. Sterling Capital Management LLC now owns 2,453 shares of the industrial products company's stock valued at $59,000 after acquiring an additional 2,181 shares during the last quarter. KBC Group NV raised its holdings in Kennametal by 50.3% in the 4th quarter. KBC Group NV now owns 3,351 shares of the industrial products company's stock valued at $80,000 after acquiring an additional 1,122 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in Kennametal by 10.5% in the 4th quarter. Bank of Montreal Can now owns 9,437 shares of the industrial products company's stock valued at $227,000 after acquiring an additional 898 shares during the last quarter.

Kennametal Trading Down 1.5%

NYSE KMT traded down $0.33 during mid-day trading on Monday, hitting $21.21. The company's stock had a trading volume of 237,248 shares, compared to its average volume of 882,676. Kennametal Inc. has a 52-week low of $17.30 and a 52-week high of $32.18. The stock's fifty day simple moving average is $20.21 and its two-hundred day simple moving average is $22.87. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.53 and a quick ratio of 1.13. The firm has a market capitalization of $1.62 billion, a P/E ratio of 17.37, a price-to-earnings-growth ratio of 3.69 and a beta of 1.39.

Kennametal (NYSE:KMT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.21. Kennametal had a net margin of 4.76% and a return on equity of 8.12%. The firm had revenue of $486.40 million during the quarter, compared to analysts' expectations of $489.30 million. During the same period in the prior year, the company earned $0.30 EPS. The firm's revenue was down 5.7% on a year-over-year basis. Research analysts expect that Kennametal Inc. will post 1.17 EPS for the current year.

Kennametal Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.80 dividend on an annualized basis and a yield of 3.77%. Kennametal's dividend payout ratio (DPR) is 57.55%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on KMT shares. Morgan Stanley boosted their price target on Kennametal from $20.00 to $21.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Barclays boosted their price target on Kennametal from $22.00 to $24.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Finally, Wall Street Zen upgraded Kennametal from a "hold" rating to a "buy" rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $25.80.

About Kennametal

Kennametal Inc engages in development and application of tungsten carbides, ceramics, and super-hard materials and solutions for use in metal cutting and extreme wear applications to enable customers work against corrosion and high temperatures conditions worldwide. The company operates through two segments, Metal Cutting and Infrastructure.